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Search Results 0 to 15 of about 16 (some duplicates have been removed)
speaker john boehner, and if you look at the deficit, it's been cut by more than half in 2009, the fastest deficit decline over a sustained period since world war ii, so would you acknowledge some progress is being made? >> yeah, i think it's a great point. if you look at the numbers, looks like quite a bit of progress has been made and the deficit has come down very quickly. that, of course, comes after a large rampup in the deficit where it grew by 800% before those four years, and i think more troubling is if you look at the nation's debt, where our debt levels are twice as large as they've been historically and are at historic highs and that's where the trouble is. while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to en
to the flood insurance program which is 24 billion in deficit spending. will this legislation put us further into the deficit? >> no, not at all. in fact, this bill, unlike the senate version which, you know there was a lot of discussion over the senate version, this bill is actually 100% paid for, and, generates about $165 million, according to the cbo, of revenue over five years. so it pays for itself. it is not a tax because it, it pays for itself only for those within the national flood insurance program. so if you're not in a flood zone and you don't have flood insurance, this doesn't affect you. but if you are in the flood insurance program and your primary residence you will pay a user fee to pay in the program of $25 a year. very reasonable. that will pay for the program. gerri: i got it tell you, 200 million over five years? that doesn't do anything over4 billion in debt the program is already n how will we pay that off? >> well it is still better than nothing. had we done nothing, there wouldn't be 165 million toward that debt. that is number one. second thing that number is not co
fight, the deficit battle. he had a very difficult re-election. just a month before, he gave an interview with black enterprise magazine he said, i'm not the president of black america. he didn't want that idea that he was favoring one particular group. i did an interview before that election. and i found out that when he came down with his senior aids just week bfers he got re-elected, he had a yellow note pad. even if this wasn't an issue, he put criminal justice reform on there and he started pushing -- gwen: we've got to go. michael's more in story in "time magazine." >> we have to leave to give you a chance to support your local pbs station. but our conversation will continue online on the "washington week" web cast extra. it streams live at 8:30 and all ek long at pbs.org/washingtonweek. and that's where you'll find my take and why 1997 was such a big year for "washington week." we're accepting birthday wishes. we'll see you next week. good night. >> corporate funding for "washington week" is provided by -- >> we went out and asked people a simple question -- how old
of rain to catch up to the normal level for this point in the season. so it's a severe rainfall deficit still. again, these steady and frequent rains are helping. >> all right. the drought is not over. >> no. far from over. >> okay. thanks, very much. >>> still to come on abc 7 nudes at 9:00, an initial sight for skiers today. the details behind the slope-side rescue of a small bear cub. >>> and a look behind the iconic work of a rock and roll photographer. what he says is the secret behind his legendary shots. attention monster taco fans! get ready for a night of monster taco madness - when two new monster taco flavors from jack in the box face off. introducing - the bacon ranch monster taco, crushin' it with strips of bacon and creamy ranch versus the nacho monster taco, comin' hard with nacho cheese and jalapeƱos! monster, monster, monster tacos! too much? needs an explosion. [boy] mom!ughs] [mom] yes? [boy] whoa,whoa,whoa... [mom and dad] [laughing] [boy] whoa,whoa,whoa... [mom] you've got two left feet,boo. >>> the fortunate ones among white house find their bliss and turn it into
of people felt was ungovernable, chiefly because of the budget deficit and now there's a surplus. is there a national leadership lesson that california provide? >> you've got to be tough on spending. at the end of the day, fiscal discipline is the fundamental predicate of a free society. and you just have to maintain that. secondly, you do have to find a way to create a governing consensus or coalition. in california, we do have a majority democratic party. and we don't have the any constitutional blocking points like the 60-vote requirement in the senate or the division of parties in the house between the house and the senate. >> it is interesting, is there a lesson for president obama no matter how liberal you are, you said, here the president's about to present a budget where he's saying look, the deficits are coming down for now. we've got to spend more. we're only going to get the economy going in a meaningful way if we spend more on infrastructure and the loo i can. >> yeah, spend more but in the framework of adjusting your long-term liabilities so we're in balance. so that
voted to have a toll raise. there's a projected deficit of $142 million over the next five years. a rate hike schedule the toll is going to jump, and by 2017 it will be up to $7:# and then it will cost $8 to cost the golden gate bridge. mary curry is retiring. she's had the job 22 years. she plans to retire in april. she's going to do consulting work and will spend time with her parents and travel. she plans to keep a close eye on the bridge and any future changes. >>> more on protecting bicyclists. they want to raise the fine from $95 to $1,000. it would lead to fewer crashes. most crashes are accidental, so, they don't think it would change anything. >>> she could see russia from alaska. they're predicting the turmoil between russia and its neighbor. >>> she was determined to get to hawaii, one woman's multiple attempts to stowaway and new questions about security at sfo. >> let's take you outside, there is a look at the approach of are the richmond san rainfall bridge. roads are still wet. the cards coming at the screen, no problems to report in that area. it's a good morning to once
that is buried and driving me crazy which is the decline in the deficit. nobody wants to hear anything about it, because it went from the trillions and you know the president could say we have cut spending here, and maybe because of the gridlock, but there is not a lot of supply of bonds. how about saying that. >> well, there is a decline in the deficit, but i don't know how much of that s is due to th proceeds of fannie mae and freddie mac. >> and the fdic had a good trade in there. good trading by them. >> and we have not talked about it often enough, but we have talked about the lawsuit initiate initiated by perry and berkowitz and ackman owning the common which is up sharply, but they are way past paying them back. and the president -- >> and the president has said that the common -- >> and the third amendment is all in place meaning that all of the profits are e sweeping to the government helping the e deficit. >> it is a windfall due to the rising pricing in housing, but the president said that the common should go to the treasury and he made that statement, and the fdic knew that the pre
spending. we've gone from deficits to surpluses. we're growing jobs, growing our economy. we're providing once again sources of energy from whatever source it might be, depending upon which state you're in. we're proving these things do work. but we also told him the time it takes to get permits, we would like to have offshore drilling. we would like to have more cooperation from the epa and different federal regulatory entities that take so long to get through. those things are holding jobs back. of course, he has a different philosophy, that the more government spends, the more it will help the economy, which we believe differently. we believe you let people keep more of their hard earned money they're going to spend it back in the economy and create jobs and businesses. >> congress at budget office, nonpartisan, has come out with a study in the last week or so that says basically obamacare is going to cost up to 2.5 million jobs, lost jobs from obamacare, and about 1 million lost jobs in the minimum wage. question, if you know -- if you knew as governor, if your budget bureau told you
progress made. if we just take a year in review. so, a year in review, in terms of deficit reductions. when the budget came out last year, it was predicted $1.1 trillion. it was 680 in the end. about a $400 billion deficit reduction from 2012 to 2013. then, we have a situation where i think hopefully we've broken the fever on the issues of having conversations about default. >> money that's overseas. are there efforts to bring money overseas permanently back to the states? >> it depends on how one is talking about that. we want to create a system that is clear and that is helpful for our companies to know what they're doing, how they're doing. and not discourage investments from coming back and finances from coming back to the u.s. >> tell me about going from bettenville, arkansas, in the private sector, back to the government. >> walmart is an institution of execution. that is what it is certainly known for. and fortunate to spend time and to be there. coming back to the federal government, certainly, as you reflected, one has to work and work on both sides of the aisle. i go up and down t
would happen with the $17 trillion deficit? stuart: we have asked you this before. what are we going to do? you told us you are out there, we want to bring people together. not looking for a radical opposite to what is going on. you want to bring people together to find solutions and i know you have been out there looking. do you think it is possible to establish a consensus? is it possible to bring people together over a course of action that will take us in a different direction in the future? >> it is very possible. we need to start talking. never have a conversation with your adversary because that humanizes them and your job is to demonize the. we see a lot of that going on. that is not what we want. in the pre revolutionary days of america people need to get together with their friends and family and talk about what kind of america do you want to have? talk about who your representatives are and how did they vote. not how they said they voted but how did they vote. you need to know that because you need to talk to your 87-year-old and who hasn't voted in 20 years who may be an
that had obviously unsustainable balance of payment situations and that had current account deficits and that needed to have some kind of sell-off to rebalance and other countries where the fundamentals were fine. frankly, it seems like those fears weren't born out. i'm wondering what you think of the dynamic now give whatn what happening and in particular whether or not you think that this is going to have contagion effects elsewhere. >> this is an important question. the emerging markets are in the middle of a major capital outflow. i think some of the data shows that there's been money leaving emerging markets for over 15 weeks already now. >> 18. >> 18 weeks. and i think that we shouldn't expect this to change the matters very much. i think rebecca's question was spot on. how much has the russian action over the weekend really changed the macroeconomic situation and i think very little. i think that applies to the emerging markets as an asset class as well. >> but let me say something. it hasn't changed the macrosituation but it has changed the approach to risk. look what's going
't have enough import to fund our consumption or enough saving to support our deficit. what are we going to do if china changes and we don't. >> but i gather that you think they're on the ascendency and we are clearly on the decline. that is the -- i will say, that was my takeaway. >> they are rebalancing their model to keep the growth and development story going and that will certainly take them to a larger scale of their economy than ours, at some point in the next five to ten years. >> gdp. >> their per capta gdp, joe, is going to be increasing, but at a much slower pace. for a long time. >> multiplied out and that's why it's bigger. >> for a long time. are we on the decline? that's the big debate in america. we continue to undersave, underinvest in people, infrastructure, and capacity. and if we don't get that together, then their ascendency will coincide with our decline. >> we've had periods like this before. >> yeah. >> i mean, you're optimistic we get it together or do you think we're the roman empire? >> no, look, i hope we get it together. what i don't see is a debate on the st
that the deficit is going down. who wouldn't hope for that? we hope for it. it's working. but any time you look at what they're doing, it's all short term. the stuff that's going to eat our lunch is 10,000 people a day turning 65. you've got a system that was set up of social security that you won't even address the insolvency of it for 75 years. health care is on automatic pilot. forget what you call it. it's time to deal with the long-term stuff before interest goes from where it is now to back to historical heights and then watch people grab their socks and run for blocks. >> is there anything you think can be done considering that it probably won't be implemented until after the november 2014 midterms? >> anything that will be done will be done down the road. that's what's wrong with the health care plan. whatever it is is all the correction process is down the road, way ahead. and it's like a dock fix. you're going to do another dock fix and they will run in. you're going to do anything. whatever you do, whether it's tort reform or real estate or whatever is done, the groups will organize
talk about deficits and debt. we could talk about data. but in the end, treasuries really when it gets nasty, when that tina the only -- that there is no alternative to stocks, that changes rather abruptly when stocks go down. and then tina becomes there is no alternative to being long treasuries. we want to keep cognizant of that. to the end the japanese are doing everything in their power to keep the yen weak, let's look at how all that stimulus and various ways they're trying to goose their economy have panned out. one way they've made good strides on. currently the latest reads is 3.7. now, that is the basic lowest rates since july of '07. during that interim period between '07 and now the high was 5.5. the message to this is is that the japanese may have issues for the last 25 years. but huge high unemployment certainly does not seem to be one of them but they made some inroads. base wage, recent data. this is important. base wages were only up 1/10 year over year. one of the things they're trying to do is goose inflation. if you adjust the wages for inflatio
Search Results 0 to 15 of about 16 (some duplicates have been removed)